Centerra Gold Inc. (NYSE:CGAU) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Centerra Gold Inc. (NYSE:CGAUGet Rating) have earned a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $13.00.

CGAU has been the subject of a number of recent analyst reports. National Bank Financial increased their target price on shares of Centerra Gold from C$14.50 to C$16.00 in a research report on Wednesday, April 20th. Canaccord Genuity Group raised their price objective on shares of Centerra Gold from C$12.50 to C$12.75 and gave the company a “buy” rating in a research report on Tuesday, March 1st. Scotiabank raised their price objective on shares of Centerra Gold from C$12.50 to C$14.00 in a research report on Tuesday, April 5th. TD Securities lowered their price objective on shares of Centerra Gold from C$14.50 to C$14.00 in a research report on Friday, May 6th. Finally, TheStreet cut shares of Centerra Gold from a “b” rating to a “c+” rating in a research report on Wednesday, May 25th.

A number of institutional investors have recently added to or reduced their stakes in the stock. National Bank of Canada FI bought a new position in Centerra Gold in the fourth quarter valued at approximately $122,000. Hsbc Holdings PLC bought a new position in Centerra Gold in the third quarter valued at approximately $132,000. UBS Group AG bought a new position in Centerra Gold in the first quarter valued at approximately $204,000. Vontobel Holding Ltd. lifted its stake in Centerra Gold by 125.9% in the first quarter. Vontobel Holding Ltd. now owns 23,743 shares of the company’s stock valued at $233,000 after buying an additional 13,233 shares in the last quarter. Finally, Prudential PLC lifted its stake in Centerra Gold by 15.8% in the fourth quarter. Prudential PLC now owns 23,849 shares of the company’s stock valued at $184,000 after buying an additional 3,256 shares in the last quarter. 37.38% of the stock is currently owned by institutional investors and hedge funds.

Shares of Centerra Gold stock opened at $7.02 on Thursday. The company has a 50-day simple moving average of $8.38 and a 200 day simple moving average of $8.58. Centerra Gold has a 12-month low of $6.64 and a 12-month high of $10.57.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Investors of record on Wednesday, May 18th were paid a dividend of $0.054 per share. This represents a $0.22 annualized dividend and a yield of 3.08%. The ex-dividend date was Tuesday, May 17th. Centerra Gold’s payout ratio is -14.19%.

About Centerra Gold (Get Rating)

Centerra Gold Inc, a gold mining company, engages in the acquisition, exploration, development, and operation of gold and copper properties in North America, Turkey, and internationally. The company explores for gold, copper, and molybdenum deposits. Its flagship projects include the 100% owned Mount Milligan gold-copper mine located in British Columbia, Canada; and the Öksüt Gold Mine located in Turkey.

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Analyst Recommendations for Centerra Gold (NYSE:CGAU)

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